65 Water Street is a partially stabilized commercial asset in Worcester’s Canal District, offering a blend of in-place income and value-add potential. The property generates approximately $55,500 annually from a dance studio tenancy and billboard revenue, with additional upside from a tenant-ready, ground-level space in the rear building. The rear building is intact and occupied, while the front building has been cleared to a clean shell following a prior isolated fire/water event, allowing efficient buildout without demolition. Ownership has completed key capital improvements, including a new roofing system and two new HVAC units. The site includes approximately 22 on-site surface parking spaces and benefits from nearby municipal parking, both of which are valuable amenities in this neighborhood.
- Tax Year:
- 2026
- Status:
- Active
- Zoning:
- BG-3
- Orig Price:
- $2,350,000
- Waterfront:
- No
- MlsStatus:
- New
- City:
- Worcester
- State:
- MA
- County:
- Worcester
- Postal Code:
- 01604
- Longitude:
- W72° 12' 16.8''
- Latitude:
- N42° 15' 24.5''
Commercial Sale
65 Water St, Worcester, Massachusetts
- Property Type :
- Commercial Sale
- Listing Type :
- For Sale
- Price :
- $2,350,000
- Square Footage :
- 22,400 Sqft
- Year Built :
- 1900
- Lot Area :
- 0.33 Acre
- Listing ID :
- 73508001
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com